February 16, 2006
Diamond Rough To Rise with DTC's Positive Outlook
The Diamond Trading Co., the rough diamond sales arm of the De Beers Group, says it has advised its clients, called sightholders, of an upward "price rebalancing" of approximately 2%, adjusted in accordance to the company's medium- to long-term market fundamentals.
"DTC's strategy is to review box prices on a frequent basis in order to align itself with the changing diamond market," says Des Cavanagh, DTC sales director. "This is intrinsically linked to the performance of the polished demand in key consumer markets," he added.
Due to the 6%-7% growth achieved in 2005, and a forecast of 7% growth in 2006, prices have been rebalanced for the February Sight to just under 2%. "While 2006 has undoubtedly started with its challenges, we remain confident that the fundamentals of our business remain firm and that there will be opportunities for achieving real growth this year," Cavanagh said.
by Robert Weldon, G.G.